Tag: Digital Economy

- MBSB Bank and PKNS Real Estate signed an MoU to support small businesses by introducing cashless transaction platforms like DuitNow. The partnership aims to help business owners in SACC Mall and PKNS Complex reduce operational costs and improve financial management through real-time retail payment solutions.

Taiwanese economic officials express concerns about recent US semiconductor legislation potentially harming Taiwan's critical chip export industries. The $50 billion Chips and Science Act aims to reduce reliance on Taiwanese technology, creating uncertainty for the island's tech manufacturing sector.

Bank Negara Malaysia has published an exposure draft detailing regulatory guidelines for Digital Insurers and Takaful Operators. The proposed framework aims to enhance market inclusiveness, competition, and operational efficiency while establishing clear licensing and business model standards for digital insurance providers.

Norwegian Telenor and Malaysian Axiata Group have secured key approval for merging their local telecommunications units Celcom Axiata and DiGi.Com. The proposed $15 billion deal aims to create a stronger market competitor in Malaysia's competitive telecom landscape, with the new entity named Celcom Digi pending final regulatory approvals.

Malaysia is actively working to mitigate semiconductor order backlogs that emerged during the COVID-19 pandemic. Global supply chain issues, including lockdowns, factory incidents, and transportation challenges, have significantly impacted the semiconductor industry's production and delivery capabilities.

Singapore and Vietnam's foreign ministers meet to accelerate digital economy partnerships and mutual health certificate recognition, marking the first ministerial visit since COVID-19 pandemic began.

Petronas and SEA Ltd are among prominent Malaysian companies exploring digital banking licenses. The potential applicants include Genting, YTL Corp, Sarawak government, and Grab Holdings. This development indicates Malaysia's strategy to modernize its financial services sector and attract innovative digital banking solutions.

Malaysia's Ministry of Finance plans to implement cashless payments for all government services by 2022 under the MyDigital initiative. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz aims to improve transaction safety, governance, and reduce potential fraud through electronic payment methods.